Opportunities for job seekers are expected to grow even better in the new year with employers in India being most optimistic foreseeing vigorous hiring activity in the January-March period, says a report.
According to the Manpower Employment Outlook Survey released today by ManpowerGroup, this is the fourth time in a row that employers in India have reported the most optimistic hiring plans among the 42 countries participated in the quarterly research.
The net employment outlook for India stood at 45 per cent indicating that job seekers may benefit from a vigorous hiring pace in the months ahead.
“The government initiatives, designed to make labour markets more flexible to effectively address employability gaps and combined with signs that the Indian business environment is improving, are reinforcing employer confidence,” A G Rao Group managing director ManpowerGroup India said.
The report said that hiring plans rebound for the upcoming quarter from the year-ago levels in most industry sectors and all regions, and overall hiring pace is expected to be “vigorous”.
“Companies are back in hiring mode. Opportunities for job seekers are expected to grow even stronger as emphasis is placed on improving both business growth and employment generation,” Mr Rao said adding that a rise in the number of start-up ventures and the emergence of India as an investment destination has also helped in building up the momentum.
The most optimistic hiring plans are reported by employers in the wholesale and retail trade sector and the finance, insurance and real estate sector.
From a regional perspective, employers in the Southern and Western regions anticipate the most opportunities for job seekers in the months ahead, reporting Net Employment Outlooks of 46 per cent and 45 per cent, respectively.
Across the globe, employers in 38 of the 42 countries and territories report positive first-quarter hiring plans.
While employer confidence in both the US and the UK continues to gradually improve, hiring intentions in China and Brazil remain positive, but the energetic pace that once characterised both labour markets has now slowed to more modest levels.
Hiring confidence for the January-March period is once again strongest in India, Taiwan and New Zealand.
The weakest and only negative forecasts are reported by employers in Finland, Italy, Netherlands and Switzerland, the report said.
Among the Asia Pacific countries, employers in India report the strongest hiring plans across the globe, while the weakest forecast is reported by Australian firms, it added.